Present Scenario and Growth Prospects of Mining Equipment Market Over The Period 2019 – 2023 | Global Key Players - Caterpillar, Komatsu, Liebherr Group, Sandvik, Hitachi, Atlas Copco, Metso

This comprehensive Mining Equipment Market research report 2019 – 2023 includes a brief on these trends that can help the businesses operating in the industry to understand the market and strategize for their business expansion accordingly. The research report analyzes the market size, industry share, growth, key segments, CAGR and key drivers.

Overview of the Global Mining Equipment Market:

The Global Mining Equipment Market has witnessed a severe downfall since its peak in 2011 and has plunged about 73%, accounting for nearly USD 1.4 trillion shareholding values until late 2016. However, the industry is currently experiencing a positive phase, with commodity prices rising and augmenting the demand for raw materials. Majorly, mining of high priced metals like gold, copper, and other ores are expected to drive the market.

The ever-increasing demand for these materials has caused the mining equipment manufacturers to come up with better and more advanced equipment. The mining equipment manufacturers can look at opportunities, like the automation of machinery to attract customers for capturing the largest share of the market. The market is driven by the growing resource exploration and augmenting demand for raw materials.

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Mining, as an industry, deploys substantial capital investment and among the total, over 1/3rd is for mining equipment. Any country which hosts mining operations is bound to have monetary, labor employment, and local industry benefits. Among the beneficiaries, equipment and service suppliers are the largest ones, accounting for about 69% of the benefits from any particular mining activity in the country. The value indicates a prolific market for mining equipment in the global scenario.

A transition has been observed from underground to the more economical, open-pit mining, which is expected to drive the demand for mining equipment during the forecast period. Furthermore, the development of high-performance equipment, with increased automation, has made extraction of ores with declining grades comparatively cheaper. For example, Ericson, along with ABB and Volvo, use 5G technology, with which they run loaders and excavators through the Kankberg mine in Boliden, Sweden. These equipment are fully automated and also pave the way for further adoption of automated machinery in mines, globally.

Owing to the new projects of thermal power energy, the demand for coal mining in China has increased drastically. However, as many small players are present in China, the inability of these players to purchase new equipment (owing to the lack of required capital) forces them to rent equipment for various projects and return it to the suppliers. This indicates a rise in the demand for rental markets for mining equipment. The trend is expected to extend to the African and Latin American countries, Indonesia, etc. Some rental companies are also joining hands to increase their product portfolio. For instance, Emeco has merged with Orionstone and Andy’s Earthmovers and has increased the fleet size to approximately 730 machines. The dependent markets (related to mining equipment), like OTR tire market, paints & coatings market, are also poised to record a stipulated growth.

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Major Key Players:

1 Caterpillar Inc.

2 Komatsu Ltd.

3 Liebherr Group

4 Sandvik

5 Hitachi Ltd.

6 Atlas Copco

7 Metso Corp

8 Outotec and More…………..

This comprehensive Mining Equipment Market research report 2019 – 2026 includes a brief on these trends that can help the businesses operating in the industry to understand the market and strategize for their business expansion accordingly. The research report analyzes the market size, industry share, growth, key segments, CAGR and key drivers.

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Table of Contents:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Market Overview and Trends

5 Market Dynamics

6 Global Mining Equipment Market Segmentation

7 Competitive Analysis

8 Company Profiles (Overview, Financials, Supplier Information, Products, Strategies, and Developments)

9 Future Outlook

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